Within the Chameleon Documentation the CompassPoint TAG States:

Tag: 	<CWC2 TYPE="compasspoint" VISIBLE="[TRUE|FALSE]" ENABLED="[TRUE|FALSE]"
IMAGEWIDTH="[string]" IMAGEHEIGHT="[string]" IMAGETIP="[string]"
IMAGECLASS="[string]" IMAGESTYLE="[string]" TOOLSET="[string]"
IMAGESELECTED="[string]" IMAGEHOVER="[string]" DIRECTION="[1|0|7|6|5|4|3|2]"
PANPERCENT="[0 < integer < 100]" IMAGEBASE="[string]" IMAGEEXTENSION="[string]"/>

1) The IMAGESELECTED="[string]" IMAGEHOVER="[string]" parameters do not work in
this widget. Should it? It would be great if it could be, all buttons should
have this option. If you don't think so, please remove these parameters from the
documentation.

2) I realize the image path is defined using three parameters [IMAGEBASE],
[DIRECTION] & [IMAGEEXTENSION]. These parameters are concatenated in the listed
order to make the image path for the button. Could this be simplified? Does the
image name of the button be so dependent on the Direction? This is not a
problem, however this is not explained well in the docs ;)

How about this, the image path can be defined using the IMAGE parameter, like
most widget buttons. This would be instead of three parameters. The CompassPoint
parameter DIRECTION is still important which defines the panning direction. This
way we would not need the parameter IMAGEEXTENSION.

The CompassPoint Parameters could look like:

<CWC2 TYPE="CompassPoint" Visible="true" Enable="true"
Direction="southwest" 
PanPercent="80"
IMAGE="images/cwc_buttons/pan_1_sw" 
IMAGEHOVER="images/cwc_buttons/pan_2_sw" 
IMAGESELECTED="images/cwc_buttons/pan_3_sw" 
ImageWidth="19" ImageHeight="19" />

3) One final comment about the documentation of the Direction parameter:

DIRECTION="[1|0|7|6|5|4|3|2]" 

I had a difficult time understanding the number values for the direction. Are
the numbers actually valid in this widget? The only way I could get it working
is by spelling it out. eg. "north", "south", "southeast"....

In the documentation I think the DIRECTION values should be spelled out.
eg. 

DIRECTION="[northwest|north|northeast|east|southeast|south|southwest|west]"